Parameta Solutions, the data and analytics division of TP ICAP Group, has launched an upgraded real-time data service designed to improve transparency in over-the-counter (OTC) oil trading.
The service provides live, broker-sourced pricing from TP ICAP subsidiaries PVM and ICAP, with data from TP to be added later in October. Parameta claims that this makes it the only provider to aggregate data from three of the world’s largest oil brokers.
Victor Laurent, Parameta’s Head of Energy & Commodities, explains to TradingTech Insight the key drivers behind the launch of the new service: “The oil market remains opaque and fragmented. This siloed approach creates a pressing need for improved transparency across the ecosystem. A major challenge is the lack of synchronicity in data sharing. Information is still exchanged via channels such as ICE chat rooms, Bloomberg messaging, and WhatsApp, which are not designed for real-time data delivery. As a result, market participants face delays and inconsistencies that hinder decision-making. Key issues – such as asynchronous communication, information asymmetry, limited transparency, and disconnected workflows – are widespread. Even within organizations, internal teams sometimes lack the tools to collaborate effectively, leading to misaligned pricing curves that should otherwise be harmonized. This demand for better data infrastructure and delivery mechanisms is coming from both sides of the market: data providers seeking more efficient distribution, and data consumers requiring timely, accurate insights to support trading and risk management.”
Parameta’s new service aims to address this demand by offering structured, real-time data licensed for use by trading platform developers, data scientists, quants, and risk managers. “As these OTC markets have matured, new market entrants have emerged,” notes Ovie Koloko, Chie Product Officer at Parameta. “In recent years, as the positions and risk profiles of some end-consumers have grown significantly, the need for higher-frequency and higher-fidelity content has also increased. There are clear operational and internal use cases for having better, more consistent real-time pricing across our brands. Furthermore, given the shift on the client side towards better ETRM and CTRM systems and more up-to-date price discovery systems, real-time pricing is essential to support real-time analytics, risk management, and valuation capabilities. That is what we are providing.”
Coverage spans crude, light ends, middle distillates, fuel oil and LPG, with input from more than 100 brokers across 17 desks in London, Singapore and Dubai. Data is delivered through multiple channels, including WebSocket, SURFIX, Marketfeed, EMD, sFTP, S3, Azure and Snowflake.
“These mid-prices represent our indication of where the market is for our individual brands and desks,” says Koloko. “They are intended as an aid, allowing a client to then pick up the phone or go to chat and enter into a negotiation with our brokers around that pricing point.
“We’re very intentional about price transparency,” adds Laurent. “The source of each price is clearly identified—whether it’s a mid-price from PVM, TP, or ICAP, the brand is always visible. Each product is tied to a specific desk, and when we publish a price, users have direct access to the relevant desk and points of contact.”
In addition to API delivery, the service is available via TP ICAP’s Fusion Insights platform, which integrates broker-sourced data into a single interface for visualising market trends and monitoring volatility.
By making real-time data available from multiple OTC brokers, Parameta aims to give market participants faster, more comprehensive insight into global oil trading activity.
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